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WETA
Dec 6, 2012 12:00pm EST
was very firm. we kept trying to push him on this tax issue, and he looks like he has learned the lesson from various debt negotiations, gej talks and the negotiations of 2011 and he's not giving an inch for the top tax earners expiring this year. >> rose: we conclude this evening with a conversation with stuart stevens former chief strategist and advisor to governor mitt romney and the romney campaign. >> working for governor romney was an extraordinary privilege. and it really was an arne. and i think that he was in this race for the right reasons. he was in it out of a sense of what he could do for the country. to be a small part of that was a great privilege. but i think that republicans need to, we have a good menial, we have to do a better job of getting it out. we need to look at how we need to adjust. >> rose: julianna goldman and stuart stevens when we begin. 1e captioning sponsored by rose communications from our studios in new york city, this is charlie rose. begin this evening with politic. less than a month remains for lawmaker to reach a deal before the fiscal cliff dead
Comedy Central
Dec 5, 2012 11:00pm PST
're raising tax too much. two years later as we stand on the precipiceave cliff, suddenly this plan as seen as the mosterably thing in town and people are coming to you to find out your sage advice. what happened in those two years? >> well, the people woke up. i think young people are waking up. you can't do this. you can't tax your way out of this hole. you can't grow your way out of this hole. we had every economist say you could have double-digit growth for 20 years and can't get out of the hole. you can't cut spending out of your hole. we got five democrats, five republicans, ranging from dick durbin to illinois-- great progressive democrat-- and coburn from oklahoma, and five dems, five republicans, one independent, that's a super majority. and for god's sake the reason we were so successful is that we effectively pissed off everybody in america. ( laughter ). >> jon: congratulations, sir. kudos. kudos to you. ( applause ) so now, as you watch these competing plans, you watch the president has submitted his opening offer, which has been derided by the house republicans as an ode to l
CSPAN
Dec 6, 2012 5:00pm EST
for tax reform will be some of the lead folks who are shepherding whatever kind of framework, hopefully comes out of the fiscal cliff to their committees to help develop the details of how to do entitlement reform and tax reform. so we are very like you have with us today chairmen bockius who is somebody who's been thinking about these ideas for quite some time, hazard immense amount of expertise and will talk to us today about where the situation stands and where hopefully we will be able to move from there. thank you so much, senator. [applause] >> thank you very much, maya. thank everyone here for fix the debt, putting the fix to get conference together. this is an interesting senate. have my back to all these a luminaries here. i don't know whether there will be darts in my back or spitballs, whatever it's going to be, but it's good to be here and try to help any way i can. i first want to commend erskine bowles and senator alan simpson, retired coalition for your laserlike focus on this. you are engaging the american people, however. drawing attention to fiscal challenges that thre
FOX Business
Dec 6, 2012 1:00pm EST
what they say i see ae small business tax hike president obama is pushing. the president is skipping town also for a quick stop in northern virginia. there he will meet with a middle-class family to press congress to protect those making less than $250,000 per year for a tax increase by raising rates on those earning more. the white house demanding a tax rate increase. republicans will agree to increase taxes through eliminating deductions. even if they figure out taxes, democrats and republicans still have to resolve significant differences on entitlements. take a listen. >> it is not even the right thing to do first and foremost. visit the trophy that republicans want? is that what they want to do what is right to raise the rates? speak of the american people want us to fight to cut spending. it is a fight we are happy to have. >> a house aide said president obama and house speaker john boehner spoke on3 the phone yesterday afternoon, their first conversation a week and since republicans offered $800 billion in new tax revenue and more than a trillion dollars in spending cuts, repu
MSNBC
Dec 6, 2012 6:00am PST
the cliff. republicans might stucmble, though, into having some leverage if they end up backing the tax rate plan now and kick the rest of the can to february. one top republican governor has some stinging sarcasm for his own party's position. in the middle east the situation in syria turns from serious to scary. concerns over chemical weapons has secretary clinton conferring with her russian counterpart today to try to avoid deadly developments. >>> an nbc news exclusive, afghanistan's president hamid karzai talks about his country's future and ongoing insecurity and blames the taliban of course. guess who else? nato and the united states. good morning from washington. it's thursday, december 6th, 2012. this is "the daily rundown." i'm chuck todd. let's get right to my first reads of the morning. today's fiscal cliff photo op of the day is going to be in suburban northern virginia when the president will remind the public yet again that without a budget deal taxes will go up on 100% of americans at the end of the year. he'll visit the home of a middle class family who shared their story thr
FOX Business
Dec 5, 2012 7:00pm EST
. lou: great news on the economy, will higher taxes screw it up? two of the best economic thinkers join us, deutsche bank senior u.s. correspondents will be here joining us next. detroit on the edge of bankruptcy as city councilwoman with a rather direct, plain spoken solution saying it's simple. the city voted for obama. now obama must bail out mo-town, next. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and psonal attention. which is why we arare proud to parer with healh care professionals who understand the difference that quality time with our members can me... that's a very nice cake! ohh! [ giggles [ le announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals w helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're ab
WETA
Dec 6, 2012 6:30pm EST
cliff related selling as shareholders worries that capital gains tax rates will be higher next year. >> still, financial planner sharon appleman says selling stock solely for tax reasons isn't the best idea. >> i definitely think it's a legitimate concern and can be an opportunity. and i would say if somebody was interested in reducing a physician any-- position anyway, that can certainly be a great time to do it, you know, why pay higher taxes in a few months time when you can pay a lower tax now. >> reporter: and some analysts say, before unloading the shares, consider that fundamentals for apple haven't really changed. sure, revenue growth may slow and margins may contract, and there are worries the tech giant will have trouble fending off competition from increasingly popular android products. but, to some analysts, the shares look especially cheap today, especially considering their move south since the september high. >> we think the smart phone trend is still in the early to middle innings and is not in the late innings yet. so we think, to the extent that apple can maintain
MSNBC
Dec 6, 2012 7:00am PST
it is for republicans because then all those tax cuts from the republicans are swept away. but it's too early. it's only december 6. we've got until december 31st and in washington that's a long time. >> a lifetime. you wrote yesterday the republicans are waving a white flag as big as a bed sheet. you wrote "right now bain ser hoping to lead his fractious gop to an orderly surrender. the question is no longer whether republicans will give on taxes, they already have. all that remains to be be negotiated is how they will increase taxes. s so what's the likely scenario as you see it now? >> the fact they have surrendered, saying we're offering up an $800 billion tax increase, that's a big deal but it doesn't save us from the fiscal cliff. as susan was suggesting, there's a long time to go between now and the 31st. they have to wait until that long because neither side wants to appear to be giving in too early. that means they've given away more than they had to. you've got the president out there stirring the pot, trying to bring public opinion more to his side. the republicans are struggling to find some
NBC
Dec 6, 2012 6:00pm EST
with a kitchen table talk with a family. the vifert was meant to highlight the consequences of letting the tax cuts expire on the middle class. >> if this family has a couple thousand dollars throast spend it is what the consumers are going to be spending next year. >> democratic leaders are arguing in favor of a tax rate hike on the very rich. >> the people who are making this money are willing to pay the extra money. the american people believe they should pay the extra money. >> republican leaders labeling the president as a spendinged a dignity. >> it is about spending more than he already has. >> economists say that joint economic committee hearing turge two sides to compromise. >> you have to nail this down. >> one telling lawmakers it will take a combination of higher tax rates, tax reform, and spending cuts to avert the fiscal cliff. >> i think the president's proposal is short. i think to get where we need to get my $3 trillion target we need $1.2 trillion in spending cuts. >> a growing number of house republicans are open the raising tax rids on the wealthy but only if it is part of
CNBC
Dec 6, 2012 1:00pm EST
down here. democrats want tax hikes on the rich. republicans want entitlement cuts. we've heard this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just under a percentage move to the plus side. it's rebounding, still at bear market territory, however. it has lost over $50 billion in market cap over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on ap
MSNBC
Dec 6, 2012 2:30am PST
making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on the verge of crisis. first, let's get to the news live at 5:30 here at 30 rock in new york city. we begin with 25 days to go until the year end fiscal cliff deadline for the first time in days president obama and speaker boehner spoke on the phone yesterday. both men agreeing not to publicly characterize how the conversation went. but the stalemate in negotiations entered bold new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the top 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going
CBS
Dec 6, 2012 4:00am EST
administration is ready to go over the fiscal cliff if the gop doesn't bid on higher taxes. a poll shows nearly half of those ads say it's time to end talks cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes? >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect of an agreement that doesn't involve the tax -- remember, it's 207b8%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we learn that a lot of members of congress are heading out on a long weekend, not
Comedy Central
Dec 5, 2012 7:30pm PST
ourselves dug and put in our way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bare-bones competence and middle school level maturity. (laughter) so the there a deal. >> there's, of course, no deal. >> jon: of course! is there there a prospect for a deal? >> there's not a prospect for a deal. >> jon: of course! (laughter) but the ongoing talks -- >> there aren't even very many talks going on. (laughter) >> jon: damn! you're kidding us! give us something! >> but for the first time there are numbers on pieces of paper from both sides. >> jon: numbers on paper! (cheers and applause) we have numbers on paper! from both sides! (whispering snvpld we're all going to be okay. (laughter) how were -- numbers on paper. how were negotiations being conducted before they decided to put numbers on paper? (laughter) were they communicateding by pheromones like aunts? (laughter) vanity cards? is that how this was going? were the two sides just spray painting a side and hoping it wanders past the other side's office or other
CBS
Dec 6, 2012 12:00pm PST
are talking about the consequences of taxes going up on the middle class. outside groups are turning up the pressure for congress and the president to reach of a deal. cbs reporter danielle nottingham reports from washington. >> representative maloney -- >> reporter: lawmakers are getting an earful about why they need to avoid the so- called "fiscal cliff." >> you got it nail this down. uncertainly is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending consults on the middle class. >> creating jobs -- >> reporter: president obama and house speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> to do that to 98% of the american people, because of an insistence that the wealthiest americans get a tax cut would be profoundly wrong. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks but bu
MSNBC
Dec 6, 2012 12:00am PST
%. that includes all of you. >> the president holds the line on taxes and draws the line on the debt ceiling. >> i will not play that game. >> tonight, democratic whip steny hoyer gives me the latest fiscal cliff developments and the democratic line on medicare. tom perriello from the center of american progress action fund on how democrats can deal with republicans who can't deal with reality. rubio and ryan reload with a new message for the middle class. >> both parties tend to divide americans into our voters and their voters. >> but there is no escaping their own policies. >> we're going to a majority of takers versus makers in america. >> dnc chair debbie wasserman schultz responds tonight. plus, senator barbara boxer on her new plan for national polling place standards. and a new poll shows half of all republicans think the defunct group a.c.o.r.n. stole the election from president obama. >> that's an eye opener. >> i wonder where they ever got that idea? >> you just have to wait and see what happens. >>> good to have you with us tonight, folks. thanks for watching. here is are the latest. r
CSPAN
Dec 5, 2012 8:00pm EST
tax cuts, in the white house, they called biden the mcconnell whisperer, and the horse whisperer, and the way, one for you, one for me, and that's the way you make a deal. >> this moment, look to you we have a deal by christmas eve, new year's eve or over the cliff? >> who knows. somebody who thinks they know is only guessing. maybe there's a strategy in the white house, you know, by a certain date they'll work it out. >> play book, we always start the morning with the papers. we still love the print papers, assistant of the washington post, which, this morning, says fiscal warning yet to phase wall street. the stock markets are convinced that the fiscal drama is going to work out. the financial times has the opposite headline. they say wall street anxiety grows so which of these is more true? >> you know, -- [laughter] on wall street, they live in a zone of peaceful coexistence of optimism and pessimism. you can talk to somebody in the investment world in wall street, and in the morning, they are optimistic, and in the afternoon, they are pessimistic. i think one, you know, don'
FOX Business
Dec 6, 2012 4:00pm EST
is stunting growth, raising tax rates, something that may stunt our growth as well. you say that this bull market is overbought right now. it's about to end. why and how sharp a correction are you expecting? >> well, we believe that the high of 12 weeks ago was probably the high for the whole recovery cycle the that started in march of '09. remember that the u.s. stock market was the only market in the world that made a new high this year. we were the best looking house on a very bad looking street. and we believe that the market is overvalued perhaps 20-30%, but we also believe, as jeff did, that europe is important. we are much more pessimistic about europe. as you know, the ecb today came out with a negative report on growth, and a montt ago the imf came out and said that austerity is hurting the prospects for repayment. we believe that the recession in europe is both broadening to countries like germany and deepening in the countries where there are already roadway sessions and, in-- already recessions and, indeed, depression. greece and spain. liz: jeff looks like he's about to damage
MSNBC
Dec 6, 2012 9:00am PST
pressure on congress to extend middle income tax cuts. majority leader harry reid did his part for the cause on the senate floor today. >> so it's apparent how this will end. the only question is, when will it end? it's how long will speaker boehner make middle class families wait for relief and how long will he force the financial markets to wait for uncertainty. >> joining the panel now, the sage of capitol hill, the seasonally elegant luke russert. >> thank you so much for having me. >> you get a special intro when you arrive on set a little late. thrilled to have you here, with ongoing deliberation on capitol hill, you are the eyes. >> eyes and ears hopefully. yet i'm here, congress is recessed this week. >> always a reason, my friend. the fact that tim geithner came out and said, we will go over this cliff, is somewhat counter to what the president has been saying thus far. you couple that and the recent talk about the debt ceiling and making sure that's included in whatever deal is made on this, is the white house demanding too much? are they in danger of edging too far o
MSNBC
Dec 6, 2012 2:00pm PST
of a sudden raise taxes to a higher tax rate. i think they would be fine getting rid of some of the loopholes, but if this goes to where it's just higher tax rates on the rich and very little spending cuts, they little reform, i think there will be huge outrage. >> how about a sizable adjustment in entitlements, a big -- billions of dollars in cuts in regular spending, appropriations spending, and a reduction in the rich person's tax rate, a rise to 37% or 38%, would that sell with the right or not? >> i think there's a chance if they would see real reform, real cuts, more than what the president was saying, 2.5 times of cuts for every tax increase, but what they don't want are tax increases now and future cuts. that's not going to work. >> okay. thank you. just want to know what the rules were in the sane world and the insane world. i think it's going to be more like one to one and i think it's going to be something like i mentioned. let me go back to you, bob. i don't know what it looks like to you. just the other day, you don't have to talk about the purging in the republican party, that h
CNN
Dec 6, 2012 1:00pm PST
blitzer. you're in "the situation room." >>> we begin with president obama taking his battle to extend tax cuts for the middle class into the heart of the middle class suburb today. he visited a family just outside washington, d.c., using their story to dramatize what will happen in just 26 days if he and congress can't make a deal on the so-called fiscal cliff. a source of great concern for so many people, everyone's taxes will go up, will go up if there's no deal. let's go live to our white house correspondent dan lothian. he's on the scene for us over at the white house. how did it go, dan? >> reporter: well, wolf, we've seen the president do this before in the past whenever he's locked in negotiations with lawmakers. he heads out on the road, either goes to a backyard or sits down around a dinner table to put pressure on congress. that's what he did today when he went to falls church sitting down with the santana family. their parents who also are employed live in the household with them. so if taxes do go up on middle class americans, the overall hit on that household will be $4,000.
FOX News
Dec 5, 2012 7:00pm PST
tax cuts. >> you have a president of the united states that has the mighty pen. you bailed out the banks. bail out the american people that don't have homes for the holidays. >> in his second term i hope he will offer fresh ideas and serious leadership. >> we need a response from the white house. >> i'm hea here to tell you that nobody wants to get this done more than me. >> it's true that president obama won reelection and i congratulate him on his victory, but on january 20th, he'll face a stagnant economy and a fiscal mess. >> our people in an overwhelming way supported the reelection of this president, and there ought to be a quid pro quo and you ought to exercise leadership on that. >> you want the answer to solving the fiscal cliff? we put an offer on the table. the president now has to engage. >> you might even say he'll inherit these problems. >> the president is going away for christmas. he's going to hawaii for 20 something days. where am i going to be? where are my neighbors going to be? we're not going to have a place called home. where is the help? >> what's holdin
FOX Business
Dec 5, 2012 9:00pm EST
taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in troit. it is starting to pick up in michigan. we just need a little bit more time in der to get our financial house in order. in order to grow our economy. gerr i have heard that before. we need more time to get our fiscal house in order. woul't it make mor sense? i know that you are probably playing l kinds of different groups. all kis of different political groups who want to have their voice heard. wouldn't it make more sense to come in and have the state on this thing -- the thing that we will fix this thing and get it done. >> unfortunately, theycan't unilaterally change them. so the financial emergency manager coming into detroit, setting back a year. we just need to have the political will make these decisions and get it done. we have the political will to get it done. i don't want tsound like a broken record, but it is as simple as that. an emergcy manager can do yme than what we are doing right now with the tools that would be available to them. gerri:
CNN
Dec 6, 2012 6:00am PST
high 25%. >> we are looking at the potential of bringing in more than $500 million each year in new tax revenue. >> reporter: the big question still, what will the federal government do? pot is still illegal federally. tod today, a legal toke of revolution burning here and soon colorado. now the only thing the feds are saying is that they are reviewing the laws both here and in colorado. when this is done in the next year or so, it will look -- the pot landscape here in washington will look very different. the growers, the processors and the stores. there will be pot stores in washington state. that will be different. the one thing you won't be able to do, you won't be able to consume the pot in the stores themselves. you'll have to take it home and do it there. >> something else you won't be able to do. under washington's law, i can't grow pot in my own home, right? i can't sell it either. right? >> reporter: correct. that's the difference between the colorado and the washington law. you will no longer be able to home grow your own here, which is why a lot of the libertarian types, the
FOX Business
Dec 6, 2012 9:20am EST
because they don't want to pay the president's higher stock profit tax next year, big deal. the president has now drawn two lines in the sand. no to a debt ceiling, he wants a blank check and he's not backing off and yes on tax rate hikes, no compromise from the white house. wait until you hear the latest from ed asner. he voiced the teacher union cartoon where the rich urinate on the poor. who does he want to urinate on now? watch out, everybody, "varney & company" about to begin. ride . she knows the potential for makingr losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. well, having a ton of locations doesn't hurt. and a santa to ot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stss. fedex office. >> the big story this morning is a big name and you know it and probably own it. apple had its
FOX News
Dec 6, 2012 3:00am PST
control of debt limit. >> steve: republicans are saying let's cave and surrender on the tax issue. but coming up in 2013 we have leverage over the debt limit. remember the president of the united states his personal approval ratings went in the toilet. >> brian: as is the congress. >> steve: the congress didn't have as far to because they were close to the floor anyway. republicans say let's have leverage next time and the president said let's take that off of the table and from now on the president doesn't have to negotiate from congress. congress doesn't like that one bit. >> gretchen: usually when you are holding the cards in the negotiation you don't have to budge. that's the position the president and time geithner feel. they feel they hold the cards and they won the election and they believe the american poll believe the rich should be taxed more. that's why they are holding firm. i found it interesting that they floated out the leaks to the press yeah, the president would be willing to go over the fiscal cliff and then he sent out his guy tim geithner in the interview and a
PBS
Dec 5, 2012 6:00pm PST
. "the new york times" reported republicans might accept higher tax rates on wealthier americans to avoid triggering tax hikes for everyone. in return, they'd demand greater spending cuts next year before raising the federal borrowing limit. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history until we did it last year, i will not play that game because we've got to... we've got to break that habit before it starts. >> reporter: the 2011 standoff between the president and republicans led the nation to the brink of national default. standard and poor's even lowered its rating on u.s. government bonds. now, the president has proposed he be given authority to raise the debt ceiling without congressional action. house republicans reject that idea. and they've called for raising revenue without rate hikes, plus major savings in entitlement programs. the president argued today a partial deal is possible on taxes, if the g
Current
Dec 6, 2012 2:00am PST
of the day john boehner is going to decide it makes more sense to pass the senate bill, extending the tax cut to 98% saying to the public at large we're not going to deny you that, but we're not going to pass the debt ceiling increase. on that they'll hang tougher seeking to extract something from the white house. >> i agree with half of that. i think they're going to wait for the debt ceiling crisis that they're going to create with their leverage. but it seems to me that they have more incentive to blame the democrats for rising taxes on everybody, and then come back and pass that middle class tax cut. i think we're going to see the sun setting of the bush tax cuts. i just don't see how the tea partyers essentially can do a preemptive basically pre- preemptive tax cuts before the taxes go back up. >> eliot: charles, do you agree with sam? once the tax cuts have expired maybe they pass the tax cut for 98% but then use their leverage to negotiate the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation o
CNBC
Dec 6, 2012 4:00am EST
cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb. we're up at a 52 week high for the xetra dax. cac 40 up half a percent and ibex up half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-dollar at the moment 1.3068, just below the highs during the
FOX News
Dec 6, 2012 11:00am EST
negotiators from both sides trying to hammer out a deal over tax hikes and spending cuts as the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been much in the way of leaks as to what was discussed. most folks on capitol hill may suggest that no leaks means they are getting down to serious movement on finding a compromise to avert the fiscal cliff. because in public the treasury secretary was asked yesterday if the administration is prepared to go over the fiscal cliff. check this out. >> is the administration prepared to go over the fiscal cliff. >> absolutely. we see no prospects for an agreement that doesn't involve those rates going up on the top 2% of
CBS
Dec 6, 2012 4:30am EST
on higher taxes. on top earners. a just released poll shows nearly half of those ads say it's time to end tax cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, we say there's no prospect for an agreement that doesn't involve those tax rates going up. remember, it's 2%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we learn that a lot of members of congress are heading out on a long week
CSPAN
Dec 5, 2012 11:00pm EST
and bring together existing ones. fourth, we are going to cut business taxes go further. let me tell you how. the temporary doubling of the small business rate relief scheme helps the small firms were 350,000 firms paying pay no right at all. the last government, we will end it in 2011, we have already extended its next april. and i extended by a further year to april 2014. we also confirmed the tax relief for our employees and shareholders. the energy bills provide renewable energy and we publish our gas strategy today to make sure that we make the best use of lower-cost gas power, including new sources of gas and went and we consenting the creation of a single office of regulation. we don't want families and businesses to be left behind as gas prices come on the other side of the atlantic. [cheers] we are going to help our construction industry as well. the last government abolished property release. my humble friends, the members of the southwest and others show that this has blighted development in our towns and cities. the proposal for my colleagues, that we create a long grace. for new
FOX News
Dec 6, 2012 6:00am PST
, your taxes will go up despite the haggling going on on capitol hill. you will be paying more to the u.s. government. stuart varney joins me now. so, stuart, that's the bottom line. this is what people i think across the country are starting to realize no matter what they negotiate, 2013 will be different for most of us. >> this is the untold tax story. everybody has been concentrating on tax the rich, yes or no. but the payroll tax holiday goes away january 1. neither political party wants to keep it going, therefore the tax -- the social security tax for everybody who works goes up as of january 1. that will take $120 billion out of the economy. it is a tax increase of $120 billion. martha: the bush tax cuts and letting them go versus this increase. how does it all balance out? >> reporter: just consider this. you reported 370,000 people filed for first-time unemployment claims last week. that's a high number. forget about sandy, 370,000 is a high number. here we are raising taxes on everybody who worked by $120 billion. maybe we'll also raise taxes on richer people, wealthier people
CNN
Dec 5, 2012 7:00pm PST
the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like adults. tonight signs that maybe some adult behavior might be prevail and a compromise might be reached. jessica yellen joins us, dana bash and david gergen. what's the latest? >> reporter: they are a long way from a deal, but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earne
CNN
Dec 5, 2012 11:00pm PST
with these massive increases in rates. impasse is not an option. means everybody's taxes go up, but if the president has his way, taxes are going to go up on those very wealthy folks making over 200,000, but most are small businesses filing a subchapter s companies, about 88% of net small business income will be for these taxes when we're depending on them to create two-thirds of the new jobs. boehner's trying to mitigate that mess. i wish him luck. something's going to f to have to give. >> from everything i've heard is that we are realistically, there's two options for country. one, go over the cliff. the other, extend the bush tax cuts for the 98% of americans. everyone who makes under $200,000 a year if they're single. those seem to be the two choices. between those, which do you pick? >> but, if we do that and raise the taxes on those small businesses we were just talking about, according to the congressional budget office, that's going to be about 200,000 american families are going to be out of work next year and that's the low estimate. young is estimating about 700,000 more unemployed. that
CNN
Dec 6, 2012 12:00am PST
't negotiate. our parties are so extreme. i'm a relatively wealthy person. i want to be paying more taxes. i want our taxes to go to serve the policies of the country, education, charity, health care. i think that president obama's right about this. but i think compromise is going to be necessary to achieve some result. >> let me bring in abbe. your father is known as a moderate republican and a good dealmaker, a man who used to negotiate. what do you make of this? and what does he make of this? >> i think morale is so low right now. the country's so divided. especially for my generation. we're the ones that are going to be handed down the $60 trillion deficit. they will come to a deal. but right now, it's political theater. and it's probably going to look like the simpson-bowles. that will come full-circle again. >> here's a problem the republicans have got themselves into. is obama has been very clever here, the president. i think what he's done is skillfully said to the public, if he goes over the fiscal cliff, the republicans are prepared to make the entire middle class to pay more tax t
MSNBC
Dec 6, 2012 10:00am PST
the white house is ready to over the cliff if republicans don't budge on taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> alan simpson co-chair of the president's debt commission, says both sides are making a high stakes gamble. >> when you have leaders of parties and people of the administration saying, i think it will be to the advantage of the democrats to go off the cliff, i think it will be advantage to the republicans to go off the cliff, or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. >>> syria on the bring. secretary of state hillary clinton holds emergency talks with russia as u.s. officials confirm reports that the syrian military is prepared to launch chemical weapons against its own people. >> we've made it very clear what our position is with respect to chemical weapons and i think we will discuss that and many other aspects. >> the whole world is watching. the whole world is watching very closely. and the president of the united states has made very clear that there will b
CNN
Dec 5, 2012 5:00pm PST
't involve the rates going up on the top 2%. all of those americans too get a tax cut on that finramework. in some sense it is a tax cut for all americans. >> bottom line, we are talking today but we are still at stalemate. a phone call is big news between these two. >> we are hearing about senate republicans, what are you hearing, how significant is it. it is significant for a couple of reasons. these three republicans in different ways suggested that they would be okay with what most republicans are saying that they are not okay with. raising tax rates for the wealthy. he is the most conservative not just fiscally. the way these things tend to go, is that there is a little bit of a crack and that tends to send the other cracks into what is now a solid opposition and we will see how that goes. we are talking about senate republicans and the key thing that we have to watch is house republicans. if something can't get through the house, then it can't get through congress. >> david, what do you make of this situation? do you you think we are closer to a deal? listen, the political theater s
CBS
Dec 5, 2012 5:30pm PST
secretary made it clear there is no room for compromise. republicans must accept an increase in tax rates for upper- income americans. negotiations on a budget deal haven't gone very far and there are just 27 days before that so- called fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> pelley: by top 2%, he means individuals making more than $200,000 and couples taking in $250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of
PBS
Dec 5, 2012 7:00pm PST
. >>> over in the united states, president barack obama is urging republicans to approve a tax hike on the wealthy. he says this is needed to avert the impending fiscal cliff of automatic austerity measures that could drag the economy into recession. obama said on wednesday that federal revenues will not reach the level needed to implement his proposals to cut the deficit unless taxes are raised on the wealthy. >> there is a bottom-line amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan. >> obama added that if republican officials acknowledged this reality, the actual numbers proposed by each party are not that far apart. republicans have made a counteroffer. they want to raise revenue by reviewing the current tax deduke system. house speaker john boehner has urged the president to compromise. >> our members believe strongly that raising tax rates will hurt the economy. now we need a response from the white house. >> unless the two sides reach an agreement by the end of this year, the automatic tax increases and spending cuts will tak
NBC
Dec 6, 2012 4:30am EST
taxes go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president mohammed morsi. the street battles were the most violent since egypt's latest crisis erupted two weeks ago where morsi assumed near absolute power. the opposition is vowing more protests later today. >>> this morning, two australian radio hosts are apologizing for a prank call that's getting worldwide attention. it was made to the hospital where kate is being treated for acute morning sick sentencesness. anna bell roberts is with us. >> reporter: good morning, lynn. that's right. the latest on kate's condition
CBS
Dec 6, 2012 5:00pm EST
and then sexually taxes a female clerk. it happened late -- attacks a female clerk. it happened late last night at the econo lodge in woodbridge. this sounds particularly violent. >> reporter: incredibly brutal because the woman was attacked on the stairwell, knocked unconscious and then sexually assaulted. this woman thought she was just helping a hotel guest, but instead faced a man wielding a knife. >> this is one where it's random and to the point where she's unconscious and the assault occurs. this is probably one of the most severe cases that we've had. >> reporter: police say the 33- year-old motel clerk received a call just after 10:00 last night. the caller said he was locked out of a second floor room and needed to get back in. the woman went out to help. when she got to the stairwell, a masked man with knife came from behind and forced her into the very room she was called to let someone in, a room that was kay vanity. >> she was rendered un-- vacant. >> she was rendered unconscious either from shock or assault and during that we believe she was possibly raped. we're still looking
FOX News
Dec 6, 2012 3:00pm EST
the gop agrees that tax rates will go up on the wealthiest of americans. they said it from the beginning. president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have waived the white flag on some issues, but not all of them. assuring republicans they don't have to vote for a tax increase. >> and it technically may be correct, but not many are buying this new strategy from the white house since the tax cuts from the middle class and those from the top 2% are both set to expire at the end of the year. the white house says congress really only has to extend one of them. the president continues to put political pressure on lawmakers. he met with a middle class famil
CNBC
Dec 6, 2012 6:00pm EST
's guest of lumber liquidators, they're mean-spirited debates, the pledge is not to raise taxes, it's costing this nation a once in a lifetime opportunity to reassert itself as the leader of the free world. and faster growing the repressive communist world to boot. you are in the ability to give us a deal, any deal is crushing our economy. allow me to explain. since i read @jimcramer on tw twitter people say i'm biased. i believe that the compromise that all the common sense people are looking for, some combination of spending cuts, higher taxes and pro-growth initiatives doesn't come into play anymore in washington. too many pledges, too much ideology. i l am part of the 2% that's going to have to pay more. i have the highest effective tax rate possible, 48% for a variety of reasons. but i am willing to pay more because i used to pay more at one time and i'm grateful for what this country has done for me. i know that those of us are lucky enough to have done well in this country have had a really good run and it's time to show gratefulness, even if we think the government may be pr
SFGTV
Dec 5, 2012 10:00pm PST
the issuance of a tax exempt obligation by the abag finance authority for nonprofit corporations in an aggregate principal amount not to exceed $32,000,000 to finance and refinance various capital facilities owned by san francisco friends school. >> thank you. for this item we have anthony abizon. >> good morning, members of the budget analyst committee. my name is anthony [speaker not understood] with the controller's office of public finance. the item before you approves the issuance of $32 million to finance and refinance capital improvements at san francisco friends school. there is no fiscal impact to the city and the city is not responsible for repayment. the resolution adopting the resolution would allow the financing to proceed on a tax exempt basis. and in the audience is bond counsel and members, representatives from the school if you have any project specific questions. >> thank you. just a quick question. this item does not have any fiscal impact for the city. so, therefore, there's no budget analyst report for that, there is no general fund impact. but generally thes
SFGTV
Dec 6, 2012 5:00am PST
lgbt community that counters discriminatory federal tax policy and to provide a higher level of equalitytj( xrñ for sax spouses an partners who work for the city and county of san francisco. i'd like to thank cosponsors, campos and wiener. current city employees who would likemzjpkn to add their spouse r is taken out of their paycheck. federal government views health coverage by same sex spouses and domestidomestic -- to be taxable income. therefore they're taxed more than other city employees simply because their spouse or partners of the same gender. this discrimination in our federal tax code has cost same-sex partners thousands of dollars each year. as of july 28 of this year the latest data we have, the number of city and county of san francisco active members with same-sex domestic partners total over 350. san francisco has always been a leader in supporting our lgbt community and i'm proud to stand with that group. following the example of other municipalities such as cambridge, massachusetts and private employers such as google in the bay area who have shown leadersh
ABC
Dec 5, 2012 4:00pm PST
school funding tax increased last month. we'll have a live report on that just ahead. >> a certain type of aspirin >> a certain type of aspirin may not be as beneficial you know how much grandma wanted to be here for your fist christmas? you see grandma lives waaaay down here, and you live way up here. brian, your cousin, he's a little bit older than you, he lives here, in chicago. and your aunt lisa lives here, in baltimore. uncle earnie? waaay out in hawaii. but don't you worry, we will always be together for christmas. [ male announcer ] being together is the best part of the holidays and cheerios is happy to be part of the family. you just ate dallas! >> with storms we've had since last week two, places have been hit hardest. north bay ask santa cruz mountains. let's check in now with the santa cruz mountains. >> right. though it did not rain hard all day, rain, wet weather is persistent. hills are of course, saturated. so we got a new problem here in the santa cruz mountains today, but first let's give you[ylh good news. take a look at the video. after hard work strin hill road is
FOX
Dec 6, 2012 5:30pm EST
edge report. shawanmap3955apgbaa natl piiema- - 3 with the fiscal cliff tax season?a tax expprt joins us n studio next... to answer some questions in our take action thursday. 3 one judgees perculiar order. what he's prohibiiing one man from doing until he's able t pay back chhld support. 3 --adblib weather tz-- p, [ male announcer ] this commercial is not about getting fios; it's about getting fios. that moment after you finally got it, that you actually get it. when you can see blades of artificial grass in their full glory, you get it. or the first time you download a two-hour movie in two minutes, you get it. because once you've got it, you get it. [ female announcer ] it's faster. it's better. so, what are you waiting for? now you can get fios internet, tv and phone for just $79.99 a month guaranteed for two years with a two year agreement. act now and we'll add a special bonus -- $300 back. it's an amazing holiday deal. don't wait, this is a limited time offer. fios brings you internet ranked the fastest in the nation, and the best tv picture quality. it's 100% fiber optic, 10
CNN
Dec 6, 2012 8:00am PST
are looking at the potential of bringing in more than $500 million each year in new tax revenue. >> reporter: the big question still what will the federal government do. pot still illegal federally burning here and soon in colorado. >> so miguel, you just mentioned that there could be this boom in tax revenue if they tax it at 25%. i don't understand how that will work because today you can't buy it, you can't sell it and you can't grow it legally. how can you tax it? >> reporter: that's the huge piece that needs to be worked out by the washington state bureau of liquor that's going to run all of this just like they regulate liquor sales, they're going to regulate marijuana sales. they're going to license and tax the growing, the processing and retail sales for all marijuana all at 25% plus fees for every individual that goes into those various businesses. they project that in the first five years nearly $2 billion from this program alone. >> and then this is not the only state because during this federal election there were two states that ended up on positive end of legalizing recreational
ABC
Dec 5, 2012 6:00pm PST
on the possible impact of voter-approved prop 30. what the tax increases could do to the economy. >> we're going through a shift. >> it's called tv everywhere. later efforts by a bay area company to bring programs you want to lap top or tab blet. >> stay with us for that and raider days here on abc 7 begins in less than 20 minutes with a special pregame edition of abc 7 news at 6:30. >> then, we'll get going home with -- tomorrow with larry beil hosting a special pregame show at 4:00 p.m. >> raiders greats will gin us for that. at 5:00 coverage of the denver oakland gamelin begins live right here on abc 7. once the game ends, larry, lincoln and rod will return with after the game. >> then, it's abc programming. and a special edition of abc 7 >>> the ports of los angeles and long beach open again. stringing clerical workers reached an agreement last night with the port's 14 shipping lines ending a walk coy in lost trades. the clerk as agreed on a pact providing protection from joby& outsourcing and layoffs. the ports handle 44% of the shipping container traffic. >> economists say prop 30, tax hi
MSNBC
Dec 6, 2012 12:00pm PST
tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one's. >> and this actually appears to be working. a new poll shows the president is running ahead of the boehner-led republican team. what about basketball you say? we go to charlotte last night, and the knicks treasury secretary, carmelo anthony, top paid and big star got hurt in this dive and had to leave the game. then the at the end it came down to this. >> looking for felton and finds smith. two seconds, one second. smith for the win. >> game over. no overtime. deal, end game, done. is this meaningless nba game in charlotte lead us to how the fiscal fiesta ends? we have a man who we think knows the answer, the king of the last word here on msnbc and all seeing of things
NBC
Dec 5, 2012 11:00pm EST
tax loopholes, not by raising tax rates on the top earners as the president had demanded. this comes as a new poll suggests americans agree with the president. 40% want to that tax cuts expire for the wealthy. 32 percent say they should continue for everyone. more downsizing -- news from citigroup. they announce they are cutting 11,000 jobs worldwide. they're closing branches. a spokesperson says less than 1% of 3600 citibank employees in maryland will be laid off. one branch in the state will close in the glen burnie. a new annapolis fire department is getting over $200,000 in a grant from fino. congressmen -- fema. congressman judge sought -- john sarbanes said it will go to upgrading the fire station. some say fema is not that generous when it comes to aid for victims of superstore sandy. >> maryland woke up to this headline -- u.s. denies aid to more storm victims. this is the picture of the face of maryland during the storm. >> barbara mikulski spoke earlier at the senate appropriations subcommittee on hurricane sandy disk -- expressing her disbelief they denied the request for
CBS
Dec 6, 2012 12:00pm EST
if the country goes over the fiscal cliff. on capitol hill lawmakers are talking about the consequences of taxes going up. danielle nottingham has the latest for wjz from washington. >> lawmakers are getting an earful about why they need to avoid the fiscal cliff. >> you have to nail this down. uncertainty you is -- is killing us. >> top economists came to talk about it. president obama and john boehner spoke wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. republican leaders say they will close loopholes and eliminate tax breaks to raise money but insist that bush era tax cuts must be extended for all americans. the stan stand -- stand off and the debt concerns ryan skenke. he's the guidancing with the cochair of the president's deficit commission alan simpson. the group is working to get young people involved in fixing the debt crisis. >> we're trying to connect with our generation in a different way. we're using humor to hook them in and get th
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